NET INCOME PER SHARE

6 Months Ended

Jun. 30, 2011

NET INCOME PER SHARE

NET INCOME PER SHARE

3.     NET INCOME PER SHARE

        Basic net income per share for the three and six months ended June, 2010 and 2011 is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per common share is computed using the "if converted method" with the weighted average number of common shares outstanding plus the effect of outstanding stock options calculated using the "treasury stock" method. The number of shares excluded from the diluted net income per common share computation because their effect was antidilutive was 7,753,474 and 4,385,592 for the three months ended June 30, 2010 and 2011, respectively, and 7,753,474 and 4,385,592 for the six months ended June 30, 2010 and 2011, respectively.

        The components of basic and diluted net income per share were as follows:

		Three months ended June 30,				Six months ended June 30,
		2010		2011		2010		2011
Net income attributable to CTC Media, Inc. stockholders		$	20,904	$	38,468	$	46,103	$	61,260
Weighted average common shares outstanding—basic
Common stock			155,558,204		157,266,697		154,896,650		157,135,034
Dilutive effect of:
	Common stock options		384,630		897,652		418,922		951,971
Weighted average common shares outstanding—diluted			155,942,834		158,164,349		155,315,572		158,087,005
Net income per share attributable to CTC Media, Inc. stockholders:
	Basic	$	0.13	$	0.24	$	0.30	$	0.39
	Diluted	$	0.13	$	0.24	$	0.30	$	0.39

        The numerator used to calculate diluted net income per common share for the three and six months ended June 30, 2010 and 2011 was net income attributable to CTC Media, Inc. stockholders.